The First Fundamental Theorem of Welfare Economics requires
A)that no one has any market power.
B)producers and consumers to act as perfect competitors.
C)that a market exists for each and every commodity.
D)all of these answers are correct.

Question

Quizplus · Accepted Answer

The First Fundamental Theorem of Welfare Economics requires perfect competition, which implies no market power, and a market for every commodity, making all options correct.

The First Fundamental Theorem of Welfare Economics Requires